Development of Intelligent Traffic System and Transit Corridors Gets Launched in Tbilisi with the Support of German Government.
Loan and Grant Agreements for the Sustainable Urban Mobility Project were signed by and between Kreditanstalt fuer Wiederaufbau (KfW) on behalf of German Government and the Ministry of Finance of Georgia.
Signatories to the Agreements were H.E. Lasha Khutsishvili, Minister of Finance of Georgia and Birgit Holderied-Kress, KfW South Caucasus Regional Office Director. The Signing Ceremony was attended by H.E. Peter Fischer, Ambassador of the Federal Republic of Germany to Georgia.
Agreement envisages allocation of 47 million Euros by KfW with concessional terms and conditions, along with a grant financing of 1.5 million Euros.
The project aims to finance the development of a municipal infrastructure of urban transportation. Namely, an intelligent transport system and transit corridors will be developed in Tbilisi.
These interventions will contribute to the increased safety on the roads, traffic congestion relief and improvement of environmental conditions in the capital city of the country.
Project will be implemented by the Municipality of Tbilisi through its legal entity of public law (LEPL) - Municipal Transport and Urban Development Agency of Tbilisi.
Respectively, Separate Agreement was signed by and between the KfW and Tbilisi Municipality. Signatories were Andria Basilia, Deputy Mayor of Tbilisi and Birgit Holderied-Kress, KfW South Caucasus Regional Office Director.
